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Banc Series Select Apartment Loan Program

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Multifamily Loan for Life™
Multifamily Loan for Life
With fixed interest rates up to 30 years, Crefcoa's Multifamily Loan for Life eliminates interest rate risk preserving the integrity of your investment.
  • Fixed rates up to 30 years
  • No balloon payments
  • No interest rate resets / adjustments
  • Non-recourse
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Banc Series Select Apartment Loan Program Overview

The Banc Series Select Apartment Loan program offers borrowers flexibility in program terms and underwriting guidelines, while offering highly competitive fixed and floating rate terms. A streamlined underwriting process provides a fast and accurate pre-application process with closings in under 45 days.
Select Series is only available in the following states: California, Oregon, Washington, Idaho, Arizona, New Mexico, Utah, Colorado and Montana.
  • Flexible program terms
  • Streamlined underwriting process
  • Fixed and floating rate terms
  • Non-recourse available
  • Balloon and hybrid loan options
  • Up to 30 year terms
  • Common sense underwriting
  • Will lend on syndicated deals
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Banc Series Select Apartment Program Guidelines

  • Apartment loan sizes $750k - $10mm
  • 1.25 minimum DSCR
  • Up to 75% LTV
  • Lock at commitment
  • 3, 5, 7 and 10 year fixed rate terms
  • 30 year amortization
  • Step down prepay (e.g. 3,2,1)
  • Personal recourse required (non-recourse considered for lower leveraged deals)
  • 680 minimum credit score
  • Loan converts to adjustable rate at the end of fixed term based on 6-month LIBOR
  • 1% periodic rate cap
  • Interest rate floor is equal to start rate
  • 6% over start rate lifetime interest rate cap
  • 90% minimum occupancy required
  • Balloon and hybrid terms
  • Forward rate locks available
  • Mixed Use with up to 20% commercial income and square footage acceptable. Five apartment units minimum required
  • Mobile home parks acceptable
  • Impounds for tax and insurance not required
  • Replacement reserves not required
  • A, B, and C property types considered
  • Eligible property types include, 5+ unit traditional apartment complexes, condo properties without fractured ownership, town homes, duplexes, high-rise.
  • Cash out refinancing okay
Which Program is Best for Me Quick Quote Apply Now
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What You Need to Know

Program descriptions, highlights and underwriting guidelines are helpful when considering if an apartment loan program is right for you and your property. However, they don't always tell the whole story. Below is what you need to know about the Banc Series Select Apartment loan program that program guidelines and highlights don't tell you.
Select Series is only available in the following states:
California, Oregon, Washington, Idaho, Arizona, New Mexico, Utah, Colorado and Montana.
Pluses
  • Exception based underwriting
  • Storied deals acceptable for strong sponsor
  • Property exceptions (age, condition, structural)
  • Lower rates for strong sponsorship, properties located in major markets and low LTV
Minuses
  • Tax returns required
  • Global DSCR calculation
  • Higher rates for properties located in smaller or tertiary markets
  • Minimum liquidity and net worth requirements
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Which Program Is Best For You

Which Program is BestWhich one of our apartment loan programs is best for you? It depends on what you are looking for in a loan (e.g. interest rate, amortization, prepay, cost). It also depends on property (e.g. location, age, condition, debt service) and sponsor (e.g. credit score, financial strength, experience) characteristics. By providing some basic information about yourself, your property and what you are looking for in an apartment loan, we can help you decide which one of our programs is best for you.
Let us help you decide by providing the following information:
  • 2 years and YTD income and expense statement (P&L) for the subject property
  • Current rent roll for subject property
  • Interior and exterior photos
  • Personal financial statement
  • Schedule of real estate owned
  • Brief narrative highlighting multifamily ownership experience
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Apartment loan availability -- including LTV, DSCR, and loan size -- may vary depending on property location, economic conditions, exposure, and other variables that may negatively influence risk. Loan programs and program guidelines are subject to change. Information provided is not an offer to make a loan and should be used for informational purposes only. Meeting the minimum program eligibility requirements doesn't automatically qualify you for a loan.
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